In this topic
Introduction
This topic describes your year end processing obligations.
Your Obligations
At the financial year you are required to notify the ATO that your Single Touch Payroll (STP) figures are ‘final’ for each of your employees by 14th July.
Many organisations will also have obligations surrounding:
- Payroll Taxation
- Fringe Benefits Tax
- Pay Reviews/Salary Increases
- Annualised Salary Reconciliations
- Gender Reporting
NOTE: Your organisation will likely have additional legal and business obligations which take place at Year End, but are not directly related to payroll processing.
How to report to the ATO
The year end wizard allows you to report to the ATO:
- Check the data you will report
- Enter in Reportable Fringe Benefits Amounts
- Report your STP finalisation to the ATO
- Generate Employee Income Statements (Optional)
Before completing the year end wizard, you should ensure that:
- All payrolls for the Financial Year have been finalised
- All employer information is correct
- All employee information is correct
- All financial data contains accurate and complete payment information - you should reconcile the data against your general ledger
The year end wizard is designed to provide you with the information you need to achieve the above and complete your reporting.
